Monday, October 8, 2012

Charts 10-08 and 3PDH update

Today looked good, we did not complete a 5-wave impulse from the top. Can we wrap this up in just two more days?

5th wave ending diagonal

Three Peaks and a Domed House would complete nicely back @1266 right into December FOMC. The Fed will cook up something fresh and fun for us after the election.

Like the subwaves of (a) of A back in 2007, I am proposing that it will have deep retraces, taking us all the way back to SPX 1400 just in time for a February 2013 debt crisis. If the waves line up, March SPY puts will be legendary. So will Q3 calls.

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